Sitrin Capital Management LLC Sells 3121 Shares of Marathon ... - MarketBeat

Sitrin Capital Management LLC Sells 3,121 Shares of Marathon Petroleum Co. (NYSE:MPC) - MarketBeat

Sitrin Capital Management LLC cut its stake in Marathon Petroleum Co. ( NYSE:MPC- Get Rating) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,505 shares of the oil and gas company's stock after selling 3,121 shares during the quarter. Marathon Petroleum accounts for about 4.6% of Sitrin Capital Management LLC's portfolio, making the stock its 3rd biggest position. Sitrin Capital Management LLC's holdings in Marathon Petroleum were worth $7,159,000 as of its most recent filing with the Securities & Exchange Commission.

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Other institutional investors and hedge funds have also recently modified their holdings of the company. Todd Asset Management LLC purchased a new stake in shares of Marathon Petroleum in the third quarter worth approximately $218,000. Westpac Banking Corp increased its position in shares of Marathon Petroleum by 5.3% during the third quarter. Westpac Banking Corp now owns 116,613 shares of the oil and gas company's stock valued at $11,583,000 after acquiring an additional 5,907 shares during the last quarter. Crescent Grove Advisors LLC increased its position in shares of Marathon Petroleum by 46.9% during the fourth quarter. Crescent Grove Advisors LLC now owns 5,164 shares of the oil and gas company's stock valued at $601,000 after acquiring an additional 1,649 shares during the last quarter. Hanson & Doremus Investment Management increased its position in shares of Marathon Petroleum by 34.6% during the fourth quarter. Hanson & Doremus Investment Management now owns 2,520 shares of the oil and gas company's stock valued at $293,000 after acquiring an additional 648 shares during the last quarter. Finally, HBW Advisory Services LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at approximately $237,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 6,000 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $130.00, for a total value of $780,000.00. Following the sale, the director now owns 34,950 shares in the company, valued at $4,543,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $124.70 on Friday. Marathon Petroleum Co. has a one year low of $77.62 and a one year high of $136.46. The business has a fifty day moving average price of $125.84 and a 200-day moving average price of $116.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.76 and a quick ratio of 1.32. The firm has a market capitalization of $55.07 billion, a P/E ratio of 4.36, a PEG ratio of 0.22 and a beta of 1.60.

Marathon Petroleum ( NYSE:MPC- Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $6.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.54 by $1.11. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. The company had revenue of $39.82 billion for the quarter, compared to the consensus estimate of $35.29 billion. During the same quarter last year, the business posted $1.30 earnings per share. The firm's revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 19.88 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a $0.75 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.41%. Marathon Petroleum's dividend payout ratio (DPR) is presently 10.49%.

Analyst Ratings Changes

A number of analysts recently commented on MPC shares. StockNews.com started coverage on Marathon Petroleum in a research report on Thursday, March 16th. They set a "strong-buy" rating for the company. Wells Fargo & Company increased their price target on Marathon Petroleum from $133.00 to $153.00 and gave the company an "overweight" rating in a research report on Wednesday, February 1st. Cowen increased their price objective on Marathon Petroleum from $133.00 to $143.00 and gave the company an "outperform" rating in a report on Wednesday, February 1st. Raymond James increased their price objective on Marathon Petroleum from $155.00 to $165.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 1st. Finally, UBS Group initiated coverage on Marathon Petroleum in a report on Wednesday, March 8th. They set a "buy" rating and a $165.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $138.63.

About Marathon Petroleum

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Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.

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